MBB Public Markets I LLC Purchases New Holdings in Bio-Techne Corp $TECH

Key Points

• MBB Public Markets I LLC acquired a new stake in Bio-Techne Corp, purchasing 5,216 shares valued at approximately $306,000 in the first quarter.
• Prominent analysts have upgraded Bio-Techne's stock ratings, with target prices reaching up to $75.00, reflecting positive sentiment and expected growth.
• Bio-Techne recently reported quarterly earnings of $0.53 per share, surpassing analysts' estimates and indicating a year-over-year revenue growth of 3.6%.

MBB Public Markets I LLC purchased a new stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,216 shares of the biotechnology company's stock, valued at approximately $306,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Bio-Techne by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,375,279 shares of the biotechnology company's stock valued at $666,933,000 after buying an additional 721,012 shares in the last quarter. Select Equity Group L.P. grew its holdings in shares of Bio-Techne by 129.8% during the first quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company's stock valued at $314,609,000 after buying an additional 3,030,644 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Bio-Techne by 9.7% during the first quarter. Invesco Ltd. now owns 4,190,115 shares of the biotechnology company's stock valued at $245,666,000 after buying an additional 369,651 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Bio-Techne by 18.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,025,409 shares of the biotechnology company's stock valued at $177,380,000 after buying an additional 472,847 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Bio-Techne by 1.2% during the first quarter. Champlain Investment Partners LLC now owns 2,448,322 shares of the biotechnology company's stock valued at $143,545,000 after buying an additional 28,668 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company's stock.

Bio-Techne Stock Performance

Shares of Bio-Techne stock traded down $0.36 during trading on Tuesday, reaching $51.27. The company's stock had a trading volume of 1,499,224 shares, compared to its average volume of 2,050,028. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.38 and a current ratio of 3.46. The business's fifty day moving average price is $53.92 and its 200-day moving average price is $53.16. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 111.37, a price-to-earnings-growth ratio of 3.27 and a beta of 1.47. Bio-Techne Corp has a one year low of $46.01 and a one year high of $80.95.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The business had revenue of $316.96 million for the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a return on equity of 13.43% and a net margin of 6.02%.The firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. As a group, equities research analysts predict that Bio-Techne Corp will post 1.67 earnings per share for the current year.

Bio-Techne Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.08 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.6%. Bio-Techne's payout ratio is presently 69.57%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TECH. Royal Bank Of Canada upgraded Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. Scotiabank lowered their price target on Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating on the stock in a report on Friday, July 11th. Citigroup upgraded Bio-Techne from a "neutral" rating to a "buy" rating and lifted their price target for the company from $55.00 to $70.00 in a report on Thursday, August 21st. Stephens upgraded Bio-Techne to a "strong-buy" rating and set a $65.00 price target on the stock in a report on Tuesday, July 22nd. Finally, Wall Street Zen cut Bio-Techne from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.42.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.